Sept 25 (Reuters) - McCarthy & Stone PLC ::DIRECTORATE CHANGE.ANNOUNCES APPOINTMENT OF JOHN TONKISS AS CHIEF EXECUTIVE OFFICER.JOHN TONKISS WILL TAKE ROLE AS CHIEF EXECUTIVE OFFICER WITH IMMEDIATE EFFECT.JOHN HAS BEEN INTERIM CEO OF MCCARTHY & STONE SINCE 1 SEPTEMBER 2018.
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Sept 25 (Reuters) - McCarthy & Stone PLC ::FY19-FY23 BUSINESS TRANSFORMATION STRATEGY.2018 ORDINARY DIVIDEND TO BE CONSISTENT WITH PRIOR YEAR.BOARD WILL REVIEW CAPITAL ALLOCATION POLICY ON A REGULAR BASIS.2018 ORDINARY DIVIDEND TO BE CONSISTENT WITH PRIOR YEAR.GROUP WILL FOCUS ON REDUCING ITS CAPITAL EMPLOYED BY AT LEAST £70 MILLION BETWEEN FY18 AND FY21.TARGETS IMPROVEMENT IN OPERATING MARGINS TO MORE THAN 15 PCT BY FY21.
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Dec 21 (Reuters) - Mccarthy & Stone Plc ::‍NOTES MEDIA COMMENTARY REGARDING PROPOSAL BY DEPARTMENT FOR COMMUNITIES AND LOCAL GOVERNMENT (DCLG) TO REDUCE GROUND RENTS ON NEW LONG LEASES TO ZERO​.‍MCCARTHY & STONE HAS MADE A CASE TO DCLG FOR EXEMPTION OF RETIREMENT HOUSING PROVIDERS FROM SUCH ACTION​‍.RESPONSE TO MEDIA COMMENTARY ON GROUND RENTS​.‍HAS FULLY DISCLOSED ITS PRACTICE OF AGGREGATING AND SELLING FORWARD ITS FREEHOLD REVERSIONS​.DOES NOT BUILD LEASEHOLD HOUSES AND DOES NOT EMPLOY TYPES OF ESCALATING GROUND RENTS WHICH HAVE BEEN CAUSE OF DCLG'S REVIEW​.‍UNDERSTANDS THAT DCLG ARE CONSIDERING LIMITED EXEMPTIONS FROM THEIR PROPOSED CHANGES TO LEASEHOLD PRACTICES.‍IN FY18, PROFIT TO BE GENERATED BY FREEHOLD REVERSION SALES EXPECTED TO BE £33M, PROFIT STREAM EXPECTED TO INCREASE.‍IN SHORT TERM, IF UNABLE TO SECURE EXEMPTION FROM MEASURES, IT WILL SEEK TO EMPLOY STRATEGIES TO MITIGATE IMPACT ON PROFITABILITY OF CURRENT LAND BANK​.
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